State-of-the-art literature review on inventory models for perishable products

Abstract

Purpose The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps. Design/methodology/approach In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested. Findings There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market. Research limitations/implications Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling. Practical implications Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory. Originality/value The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

Sustainable dynamic lot sizing models for cold products under carbon cap policy

“…Other works tackled lot sizing problems for perishable products of fixed shelf life under the assumption of a stochastic demand, including Kanchanasuntorn and Techanitisawad, 2006 , Olsson and Tydesjö, 2010 , Muriana, 2016 , Chua et al, 2017 , Janssen et al, 2018 . For a more comprehensive synopsis of inventory models for perishable products, interested readers are referred to the review works of Pahl and Voß, 2014 , Chaudhary et al, 2018 .…”

Optimization of a perishable inventory system: A simulation study in a Ho.Re.Ca. company

“…Indeed, the economic value of perishable products deteriorates significantly over time (Blackburn & Scudder, 2009), which causes additional costs of shrinkage, spoilage or obsolescence (Deniz et al, 2004). Correctly managing the inventory level and the reorder process of perishable products therefore has a direct impact on a company's profitability, as it affects product sales, price, inventory holding cost, spoilage cost, deterioration risk, and on-shelf availability (Chaudhary et al, 2018).…”

“…vegetables or fruits, baked goods, bread, milk, meat, seafood, blood, radioactive/chemical materials, pharmaceuticals items, Christmas trees, fashion apparels or high-tech products), but the way these products need to be managed can vary considerably depending on the kind of product under evaluation. This is why many models have been proposed in literature for analyzing the inventory management of perishable items depending on the specific environment (Chaudhary et al, 2018).…”

A Model Development of Perishable Product to Minimize Total Supply Chain Cost on Fresh Food and Frozen Product Sales on The Trains

“…The development of the proposed inventory model for perishable products is based on the problems that occur in food sales activities on the train. The basic model in the inventory system for perishable products can be classified into fixed lifetime and random lifetime [1] and [2]. In the case of studies, food products have a fixed lifetime.…”